Charts for the Day

[anil_s_trivedi]

BSE sectoral performance charts relative to sensex plotted. One can see, on 2-year basis, Autos certainly leading the way. Metal/Realty/Power are still laggards and waiting for policy reforms. Untill then its in a mess.

I had marked a yellow vertical see though section highlighting 16th may, when new government sets in. and then we will see what expectations participants have on different sectors.

Autos, certainly posting good numbers. and market rewarding them as of now. BANKEX is the concern despite assurances from FM, Rajan (Our RBI -governor) still not showing signs of cutting interest rates. So that there is pick in demand from industries. Metal as usual, it should be in leading front, but lagging. Since projects demand is still not picking up from realty front.

HC/CD attracting good money. Lately Healthcare catching the smart money, as almost a nice upmove seen past few days. Consumer durables, expectations that economy improvement will see, this one picking up. As people will have money to spend on these items.

A late catch up seen in IT/Tech but since past few days it again showing lagging, partly due to dollar effect.

oil&Gas, power caught in pricing and reforms mess. until then it will be a sideways affair.
Capital Goods, the darling of this rally, since expectations of Modi coming in, these sector got boost, in expectation that backlogs will be cleared fast. Yet to see ground action, but stocks making good money. Thats life...buddy...Who cares...just buy/sell....
A double top seen in capital goods, a break here not good. Lets see whats there in coming week...

Have a Happy Weekend...

 

[anil_s_trivedi]

Stocks when look on weekly and monthly charts seem to be better placed for studying breakouts or breakdown. But then risk of failing is also costly. I like to play long term plays showing promising picture by prices. In the quest, CESC looking a great candidate for breakout. But in present market conditions it may be under suspect. So trade wisely.

As chart is on long term timeframe, and breaching long term supply line is the second stride, as first it already completed on weekly charts showing HH-HL formation.

Try to make position slowly, and it will doubt if it falls below 300 levels.

CESC:

http://www.traderji.com/technical-analysis/69380-charts-day-81.html#post888021

http://www.traderji.com/technical-analysis/69380-charts-day-85.html#post897357

http://www.traderji.com/technical-analysis/69380-charts-day-91.html#post914009

Our baby stock, going all the way. We did part booking in midway and almost we are 90% out of this stock.

We still lacking patience, to ride the trend.

Anyway, for we learners its a lesson.

This is power of Classical Technical analysis, where trenldines on longer timeframes act and challenged the whole thing. So its a lesson for me in every sense, right from, building positions to having patience, until your trailing stoploss triggers, one should not be eager to book out.

Stock broken all time highs, and in free world now. A likely resistance zone at 880 zone. But one must trail form here. Lets see, whats these fresh ATH breakouts take us to...

 

[santhosh2010]

 

[santhosh2010]

 

[anil_s_trivedi]

Dear santhosh,

short term is Up for stock, but on monthly it seems a reverse gear had been started. Also on Relative strength wise, this is looking to be sell on rise Rally.
On mothly stock given sell to me almost after 2009. so trading cautiously here.

Lets see, i will be positive only if stock holds 355 zone, else i am out of it.

Whats your take..on upside.??

 

[jain.er]

My take on itc is wAit for the budget dip and then buy at 310-315 super strong support...

 

[umesh12]

And in my view, at present, ITC is in no trade zone, but more likely to fall to much lower levels.

Once below 325, it will drop to 320, which will be first sign of bearishness. And I am looking its drop to 325 in a day or two (May be possible after an upmove, I do not deny that). And once below 300, it will be the final confirmation to drop to lower levels. 275 - 250 or still lower

Only chance of survival to higher levels is, its crossing of 345 or still better decisive crossing of 355 as said by Anil bhai. And he has very rightly said ITC is a sell on rise stock.

 

[santhosh2010]

Dear santhosh,

short term is Up for stock, but on monthly it seems a reverse gear had been started. Also on Relative strength wise, this is looking to be sell on rise Rally.
On mothly stock given sell to me almost after 2009. so trading cautiously here.

Lets see, i will be positive only if stock holds 355 zone, else i am out of it.

Whats your take..on upside.??

23/06/2014 (Swing low) ~ ITC intraday ends with 6.20% loss, highest volume day, compare with last 25 days. But deliverable Quantity to Traded Quantity is 65.00 %.

30/06/2014 (highest volume day after swing low) ~ ITC intraday ends with 1.70 % gain, highest volume day after swing low, But deliverable Quantity to Traded Quantity is 90.00 %.

So we can easily find out 315 level is strong support (Demand zone).So I has decide to take long with swing low as stoploss.

 

[anil_s_trivedi]

Nifty update:

Closing on daily/weekly was a good one,as closed towards the high.
A upside resistance seen at 7790-95 levels.
For first hour, key support at 7730 levels, failure to hold will bring 7700 levels.

Below 7700 not good.

 

[Shantala]